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Section 80EEB Deduction: Tax Benefit of Buying an Electric Vehicle
The Government of India wants to promote the use of electric vehicles in India and to do so, they have added a new section for Income Tax Deduction, 80EEB. Under this section, if someone purchases an electric vehicle using a loan, they can get deductions on the interest amount while paying off the loan back. The total amount of tax exemption allowed is ?1,50,000.
15-Sep-2023, 12:32 PM